Question: 34. STATEMENT 1: 'When a donor's tax return was led and it was found by the Bureau of Internal Revenue to have errors which gave






34. STATEMENT 1: 'When a donor's tax return was led and it was found by the Bureau of Internal Revenue to have errors which gave rise to a deciency donor's tax, the donor may he required to pay the deciency although he does not possess or own the property anymore. STATEMENT 2: Donor's Tax Return shall he led once a year e. Both statements are correct. c. Statement 1 is correct while statement 2 is wrong. a. Both statements are wrong. d. Statement 1 is wrong while statement 2 is correct. 35. S 1: Under the ACP, propertyr enquired before marriage by hise'her spouse ineluding 'uits and income, if any, shall belong to both spouses 52: The cost of burial plot, tombstone, monument or mausoleum, mourning apparel, expenses of the wake, and notices are deductible from the gross estate as funeral expenses a. True, true h. True, false (1. False, true d. False, false 36. The following tax incentives given to micro business enterprises, except? a. Income tax exemption from all income of the enterprise b. Exemption from the coverage of the Minimum Wage Law c. Priority to special credit window set up specifically for the financing requirements of BMBEs d. Technology transfer, production and management training, and marketing assistance programs for BMBE beneficiaries
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